Park National (NYSE:PRK) Sets New 12-Month High at $144.76

Park National Co. (NYSE:PRK)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $144.76 and last traded at $144.25, with a volume of 40319 shares trading hands. The stock had previously closed at $141.89.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com downgraded Park National from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $130.00 price target (up previously from $125.00) on shares of Park National in a research note on Wednesday, April 24th.

Park National Price Performance

The stock’s 50 day moving average is $138.50 and its two-hundred day moving average is $133.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $2.46 billion, a PE ratio of 19.25 and a beta of 0.71.

Park National (NYSE:PRK) last released its earnings results on Friday, April 19th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.30. Park National had a return on equity of 12.13% and a net margin of 22.03%. The business had revenue of $121.82 million for the quarter, compared to the consensus estimate of $118.29 million. On average, equities analysts anticipate that Park National Co. will post 8.12 EPS for the current fiscal year.

Park National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, May 16th. Park National’s payout ratio is 53.67%.

Hedge Funds Weigh In On Park National

A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake in Park National by 6,882.5% in the 4th quarter. International Assets Investment Management LLC now owns 9,566 shares of the company’s stock worth $1,271,000 after purchasing an additional 9,429 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Park National by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,532 shares of the company’s stock worth $21,727,000 after buying an additional 6,724 shares during the last quarter. Vanguard Group Inc. grew its holdings in Park National by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,701,106 shares of the company’s stock valued at $226,009,000 after buying an additional 12,925 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Park National by 7.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,414 shares of the company’s stock worth $1,384,000 after acquiring an additional 753 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Park National by 60.8% during the 4th quarter. Raymond James & Associates now owns 14,589 shares of the company’s stock worth $1,938,000 after acquiring an additional 5,516 shares during the period. 62.65% of the stock is currently owned by institutional investors and hedge funds.

About Park National

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.